Bar Harbor Wealth Management Acquires 4,894 Shares of Medtronic plc (NYSE:MDT)

Bar Harbor Wealth Management raised its position in shares of Medtronic plc (NYSE:MDT) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,640 shares of the medical technology company’s stock after purchasing an additional 4,894 shares during the period. Bar Harbor Wealth Management’s holdings in Medtronic were worth $10,915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MDT. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the third quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the 3rd quarter valued at about $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic in the 3rd quarter worth $30,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Medtronic in the 4th quarter worth approximately $40,000. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Citigroup increased their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $95.00.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Medtronic Stock Up 1.3 %

Shares of NYSE:MDT traded up $1.02 on Monday, reaching $81.68. The company had a trading volume of 4,584,132 shares, compared to its average volume of 6,891,083. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $104.74 billion, a PE ratio of 24.98, a PEG ratio of 2.33 and a beta of 0.83. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The firm’s 50 day simple moving average is $83.99 and its 200-day simple moving average is $84.95.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. As a group, analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.